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MNI BRIEF: ECB To Ramp Up PEPP Purchases In Q2

LONDON (MNI)

The European Central Bank is set to increase the scale of bond buying under its Pandemic Emergency Purchase Programme over the coming quarter, the Governing Council said in its monetary policy statement statement Thursday, a move signposted by sources in a recent MNI story.

With longer-dated global bond yields trading higher in recent week, policymakers said "based on a joint assessment of financing conditions and the inflation outlook, the Governing Council expects purchases under the PEPP over the next quarter to be conducted at a significantly higher pace than during the first months of this year." The Governing Council will purchase flexibly according to market conditions, the statement added.

Overall policy settings were left unchanged from the previous meeting, in line with the expectations laid out in the latest ECB State of Play.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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